Cristina Junqueira, co-founder of Nubank, transformed the Brazilian banking sector through innovative fintech solutions. Her extensive experience in banking and consulting led to the creation of Nubank, which now serves over 114 million customers globally. A strong advocate for diversity in leadership, she balances her successful career with family life, serving as a role model for women in business. Junqueira envisions a future of expanded financial inclusion through Nubank’s technology.
Cristina Junqueira, a prominent figure within Brazil’s fintech landscape, recounts the pivotal moment that led her to leave behind a corporate career for a revolutionary banking venture. David Vélez, a Colombian entrepreneur, persuaded her to co-found Nubank in 2013, aiming to transform the Brazilian financial sector plagued by high charges and poor customer experiences. “People in Brazil…thought very high charges…were normal,” she reflects on the prevailing attitudes regarding banking in Latin America.
Junqueira’s expertise in banking and her vision coincided with Vélez’s, which was instrumental in establishing Nubank in São Paulo’s Brooklin district, alongside Edward Wible, a software engineer. Their mission was to provide affordable financial services utilizing tailored technology, ensuring ease of access for millions. Following its launch in 2014 with a no-fee credit card managed through a mobile app, Nubank emerged as a global leader in digital banking, amassing over 114 million clients across various countries.
An alumnus of the Universidade de São Paulo and the Kellogg School of Management, Junqueira’s career reflects key milestones. After leaving her position at Banco Itaú in 2013, she co-founded Nubank, which eventually soared to a valuation of approximately $50 billion during her tenure as chief growth officer. Junqueira highlights her unique experience as a woman in a predominantly male industry: “I often like to tell people that in my whole career, I have never had a female boss.”
Nubank’s commitment to diversity is evident in its leadership strategy, with approximately 43 percent of its leadership roles held by women, a considerable advancement for gender equality in the financial sector. Junqueira, married with four children, serves as a role model advocating for women balancing professional aspirations with family life. She acknowledges the difficulties women face in seeking to harmonize both realms but asserts, “It’s very difficult. But it’s not impossible.”
Beyond her achievements at Nubank, her personal interests reflect her multifaceted identity. An avid Disney fan, Junqueira draws inspiration from the company’s focus on customer experience, an ethos she seeks to implement at Nubank. She has faced challenges, including a 2020 incident regarding diversity hiring practices, which she addressed publicly, acknowledging the need to continue exploring talent in under-represented groups.
At 42, Junqueira is optimistic about Nubank’s future, seeing significant opportunities in expanding its technology to enhance financial access globally. She envisions a future where Nubank leads the charge in fostering financial inclusion for underbanked populations worldwide, emphasizing her excitement for what lies ahead in the next two to three decades.
Cristina Junqueira’s journey exemplifies the transformative potential of fintech in Brazil while highlighting the importance of diversity and inclusion in business. As co-founder of Nubank, amid her personal and professional challenges, she remains a beacon for women aspiring to balance career ambitions with family responsibilities. Her vision for Nubank’s future suggests sustained growth and global influence in advancing financial accessibility for underbanked communities. Her advocacy for women in leadership underpins her commitment to reshaping the corporate landscape, making her an influential figure in the modernization of banking.
Original Source: www.ft.com
